Marketing communication company, Interpublic Group of Companies, Inc. (IPG, Financial) also advanced in the period on top andbottom-line earnings beat. Notably, IPG delivered a stronger than expected revenue mix between Technology and Healthcare relative to its peer group, solid cost containment and margin expansion. Meanwhile, the company continued to focus on de-levering its balance sheet. In our view, IPG’s Acxiom acquisition for data has proven to be a winner, helping the company increase their revenue across all eight major advertising sectors by industry. We believe these results continue to demonstrate the strength and resiliency of the business model and expect IPG to be a beneficiary of increasing advertising and marketing budgets across an improving global economy.
From John Rogers (Trades, Portfolio)' Ariel Fund third-quarter 2021 commentary.
